Global Smart Transportation Market (2017-2027): Almost $30 Billion to be Spent in the Next 15 Years on IOT Technology in the Global Railway Industry - Research and Markets

One major module of the Smart Cities initiative is creating and
developing an efficient urban mobility & mass transport system,
providing a variety of transport alternatives. To fulfill this
objective, the specific regional authorities have invested in several
large projects within the realm of the urban infrastructure development.
Almost USD 30 billion is projected to be spent in the next 15 years on
the application of Internet of Things (IOT) technology in the global
railway industry. Currently, USD 2 billion is spent every year by the
railway industry over smart rail projects and connected trail
technologies. These investments continue to soar at a high rate.

According to the American Society of Civil Engineers' 2013 report card,
the U.S. needs to invest an additional USD 3.6 trillion by 2020, to
upgrade the naton's infrastructure to acceptable standards. Thus, the
investments in the smart transportation infrastructure and technologies
are continuing to grow during the estimated period, as to quickly
improve the efficiency & capacity of the mass transportation, create
high quality, and secure the public transportation system.

The smart transportation market research report analyzes the future
growth potentials, opportunities, and key challenges in the market. The
market faces the challenge of integrating complexities over the legacy
system and network, synthesizing raw data from several touchpoints, and
data security & privacy of the commuters. The smart transportation
technology providers see emergent opportunities, due to the rising
adoptions of e-flexi payment systems and exponential growth of mobile
phones.